Antrim Energy Inc.

Antrim Energy Inc.

August 12, 2008 09:01 ET

Antrim Energy Drills Successful Appraisal Well and Starts Testing Program, Fyne Field, UK Central North Sea

CALGARY, ALBERTA--(Marketwire - Aug. 12, 2008) -


Antrim Energy Inc. ("Antrim" or "the Company") (TSX:AEN) (AIM:AEY), an international oil and gas exploration and production company, today announced it has successfully drilled and completed its latest appraisal well, 21/28a-10z on the Fyne Field in the UK Central North Sea. A testing program has commenced with test results expected within the next 10 days.

The 21/28a-10z well is a sidetrack from the previously announced 21/28a-10 well which encountered net 32 ft oil pay in the Eocene Tay Sandstone. The new 21/28a-10z well drilled a net 60 ft oil pay in the same reservoir section. Log analysis indicates that the sidetrack penetrated a thick section of high quality oil bearing sandstone above the oil water contact. No water bearing zones were encountered in either well. Porosity in the Tay sandstone averages more than 30%. Permeability in the Tay sandstone in the original 21/28a-10 well was measured in excess of 1000 millidarcies.

"The drilling and completion operation on well 21/28a-10z has been successfully concluded with a gravel pack and screen over the oil pay section in the Tay reservoir," commented Stephen Greer, President and CEO. "This operation was completed on schedule and below budget. We now anticipate a testing period of between five and ten days."

The Fyne Field is on trend with several other Tay Fields in the area, including the West Guillemot, Pict and Saxon developments. Fyne is situated approximately 20 kilometres from existing infrastructure, which provides production services for several fields in the area.

About Antrim:

Antrim Energy Inc. is a Canadian, Calgary based high-growth junior oil and gas exploration and production company with assets in the UK North Sea and Argentina. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit for more information.

Forward-Looking Statements

This news release contains certain forward-looking statements, which include assumptions with respect to future plans, results and capital expenditures. Cumulative volumes are not necessarily representative of future production volumes. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim's control. Please refer to Antrim's Annual Information Form for the year ended December 31, 2007 and dated March 31, 2008 and available for viewing at, for a list of risk factors. Antrim's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

Qualified Person Review

In accordance with AIM guidelines, Mr. Kerry Fulton, P. Eng and Chief Operating Officer of Antrim, is the qualified person that has reviewed the technical information contained in this news release.

Contact Information

  • Antrim Energy Inc.
    Stephen Greer
    President & CEO
    (403) 264-5111
    (403) 264-5113 (FAX)
    Antrim Energy Inc.
    Kerry Fulton
    Chief Operating Officer
    (403) 264-5111
    (403) 264-5113 (FAX)
    Nominated Adviser on AIM:
    Royal Bank of Canada Europe Limited
    Sarah Wharry
    + 44 20 7653 4667